Sunday, September 18, 2011

New York State to Halt Plans for Great Lakes Wind Farm

"...the project’s shaky economics ultimately proved its undoing. With natural gas supplies bursting at the seams because of the explosion in drilling in the Marcellus Shale, wholesale power prices across New York have dropped dramatically since the recession began.

The average wholesale cost of power generated in New York last year was less than 6 cents per kilowatt hour, and last week, the average wholesale price in Western New York was under 4 cents..."